For anyone who has been shut out of the health insurance market due to pre-existing conditions or simply unable to afford insurance premiums, the Affordable Care Act, changes in 2014 will bring some good news. Several new options will be available in making affordable healthcare choices:
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Health Insurance Marketplace
On October 1
st of this year, individuals and small businesses will now be able to take advantage of the Health Insurance Marketplace Open Enrollment. If you aren't able to obtain health insurance coverage from your employer, you will now be able to buy it directly, at rates below what is currently charged. This Marketplace is intended to bring more transparency of costs and features, making it easier to compare rates and plans with the best coverage available for the money. Individual states will have specific information about eligibility guidelines and other state Marketplace criteria.
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Tax credits for middle and low-income families to help with the cost of premiums
These credits will help families whose incomes fall between 40% and 100% of the poverty lines and who aren't eligible for other affordable healthcare plans. These refundable credits would be available to lower your premium payments immediately, instead of waiting until tax filing time.
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Expansion of Medicaid coverage
Those whose incomes fall below 133% of the poverty level will be able to obtain coverage by enrolling in Medicaid.
Other important changes in 2014:
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Elimination of pre-existing conditions and gender discrimination
Insurance companies will no longer be allowed to charge higher rates for women or bar those with pre-existing conditions from obtaining coverage.
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Elimination of annual coverage amount limits
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Continuing coverage for participants of clinical trials
Contact the
Little Insurance Group today for quotes and more information on finding the best insurance products at the most affordable rates.
Little Ins. Blogging Team
